Representatives Lynn Westmoreland (GA-03), Randy Neugebauer (TX-19), David Scott (GA-13), and Kyrsten Sinema (AZ-09) of the U.S. House of Representatives have announced the formation of the Congressional Payments Technology Caucus (CPTC).
The mission of the CPTC is to explore the new and innovative technologies in the payments industry, as well as answer questions about data security, unbanked users’ access to electronic payments, and more. Each founding member also serves on the House Financial Services Committee and has a strong interest in educating fellow members and the public on consumer protection when it comes to electronic payments. Below are statements from each founding member.
Rep. Lynn Westmoreland: “Global technology is growing and changing at a rapid pace and has a dramatic effect on our consumer payment systems and cyber security. The formation of the CPTC will help keep members up to date on industry changes, serve as an invaluable resource for information, and provide a panel for discussion on future legislation. Georgia is a leader in this industry and I look forward to representing the interests of Georgia on this caucus.”
Rep. Randy Neugebauer: “Innovative payments technology continues to expand opportunity for individuals and families in the 19th District of Texas and across America. Many of these new technologies will help address some of our most pressing financial services challenges such as cyber and data security. Today’s launch of the CPTC, and our bipartisan group of members, will elevate the dialogue and better equip Congress to address the issues that matter the most to American consumers.”
Rep. David Scott: “As a member of the Financial Services Committee, I have learned that the payments industry is a large, diverse industry that touches every segment of our financial economy. Most electronic transactions in the US pass through Georgia-based companies. Yet, many of our colleagues in Congress are not as aware of the many challenges and benefits facing the payments sector. The new caucus will increase the awareness of the industry and help address major issues such as security and consumer protections.”
Rep. Kyrsten Sinema: “Innovative payment technologies help Arizona small businesses and entrepreneurs grow and succeed. The CPTC brings members from both parties together to highlight the importance of developing new payment technologies and protecting consumer privacy and security. I look forward to working with the CPTC to foster innovation, protect consumers, and support small businesses.”
The CPTC has been supported by the Electronic Transactions Association (ETA), a leader in consumer payment technology advocacy: “This new caucus is important for the payments industry, American consumers and our economy,” said Jason Oxman, CEO of ETA. “As the trade association of more than 500 U.S. payments technology companies, ETA applauds the leadership of Representatives Westmoreland, Scott, Neugebauer, and Sinema and look forward to working with caucus members to advance deployment of payments technologies that grow our economy while improving the lives of all Americans.”
Source: Representative Lynn Westmoreland (GA-03)